If you're looking for ASX 200 growth shares to buy, then look no further!

The team at Morgans has named a number of growth shares on its best ideas list for March.

Three growth shares that have been given the thumbs up are listed below. Here's why it is bullish on them:

Treasury Wine Estates Ltd (ASX: TWE)

Morgans is a fan of this wine giant and believes it is destined to deliver strong earnings growth over the coming years. This follows its successful internal restructure and solid demand for luxury wine.

The broker has an add rating and $15.05 price target in its shares. It commented:

TWE owns much loved iconic wine brands, the jewel in the crown being Penfolds. We rate its management team highly. The foundations are now in place for TWE to deliver strong earnings growth from the 2H22 over the next few years. Trading at a material discount to our valuation and other luxury brand owners, TWE is a key pick for us.

Webjet Limited (ASX: WEB)

This online travel agent could be an ASX 200 growth share to buy according to Morgans. It has an add rating and $7.20 price target on its shares.

The broker believes Webjet's shares are attractively priced based on its positive long term outlook. It said:

Based on our forecasts, WEB is trading on an FY24 recovery year PE which is at a discount to its five-year average PE (pre-COVID). Its WebBeds (B2B) business is highly leveraged to the northern hemisphere summer holiday season which is forecast to be strong. Webjet OTA is leveraged to ANZ domestic and international travel. Management also wasted a crisis and cost reduction initiatives will reduce its cost base by 20% across the group once the business returns to scale.

Xero Limited (ASX: XRO)

Finally, this cloud accounting platform provider could also be an ASX 200 growth share to buy this month. Morgans believes the company's shares are great value and that this is a rare buying opportunity for investors.

It has an add rating and $97.00 price target. The broker commented:

XRO is a high quality cash generative business with impressive customer advocacy and duration. Over the last 12 months rising interest rates and competition have made things harder for Xero. However, we see the current shortterm weakness as a rare opportunity to buy a high quality global growth company at a discount to the life time value of its current customer base.

The post Morgans names the best ASX 200 growth shares to buy in March appeared first on The Motley Fool Australia.

With rising interest rates, ASX growth shares have taken somewhat of a back seat over the past year or so. Instead, many investors have been seeking out a potentially smoother ride among blue-chip, value, and dividend stocks.

But, as the great Warren Buffett once said, it can pay to 'be greedy when others are fearful'.

While it can feel pretty scary investing your hard-earned cash into growth stocks during periods of economic uncertainty, these can be the best times to find the greatest investing opportunities. Particularly if you take the time to sniff out relatively young businesses with strong business models, competent management teams, and significant market opportunities.

So, if you're happily focused on the investment destination, and don't mind if the road gets a bit bumpy along the way, ASX growth stocks could be just the ticket.

Luckily for you, our Foolish writers have started the research engine for you and flagged the ASX growth shares they reckon are well worth taking for a spin in March. Here is what they came up with:

6 best ASX growth shares for March 2023 (smallest to largest)

Airtasker Ltd (ASX: ART), $103.40 million

Readytech Holdings Ltd (ASX: RDY), $358.97 million

Nanosonics Ltd (ASX: NAN), $1.37 billion

Webjet Limited (ASX: WEB), $2.68 billion

Treasury Wine Estates Ltd (ASX: TWE), $9.76 billion

Xero Limited (ASX: XRO), $11.95 billion

(Market capitalisations as at market close on 8 March 2023)

Why our Foolish writers love these ASX growth stocks

Airtasker Ltd

What it does: Airtasker runs an online market platform that connects people who need services or tasks performed with those willing to perform them for a fee. This could be anything from assembling furniture or putting up a playground to gardening, maintenance, and removalist services.

By Sebastian Bowen: Airtasker is one of the Aussie stock market's newer companies, having only had its initial public offering (IPO) in 2021. But this ASX growth share has hit the ground running, and I have been impressed with Airtasker's performance during its short public life.

Just last month, Airtasker reported its half-yearly earnings, which showed an impressive 57% rise in revenues and a 58% surge in gross profits. Clearly, Airtasker's business model is proving popular.

Despite this, the Airtasker share price remains depressed and is sitting just above its current 52-week (and all-time) low. As such, I think it's well worth a look this month.

Motley Fool contributor Sebastian Bowen does not own shares in Airtasker Ltd.

Readytech Holdings Ltd

What it does: Readytech describes itself as a next-generation, software-as-a-service (SaaS), cloud-based software provider to the education, workforce, government, and justice sectors. Its software includes people management systems, payroll, employment services, and community engagement solutions.

By James Mickleboro: I think Readytech could be a top option for ASX growth investors in the current environment. This is due to its strong growth outlook and its defensive earnings. With respect to the latter, almost 80% of the company's first-half earnings before interest, tax, depreciation, and amortisation (EBITDA) came from its education and government segments.

Combined with its high-conviction pipeline valued at $27 million, Goldman Sachs believes this will lead to Readytech delivering a "+20% FY22-25E EBITDA [compound annual growth rate] CAGR". It is no surprise, then, that the broker has a buy rating and a lofty $4.40 price target on Readytech shares.

This represents around 44% upside based on the current Readytech share price of $3.06.

Motley Fool contributor James Mickleboro does not own shares in Readytech Holdings Ltd.

Nanosonics Ltd

What it does: This company provides disinfection solutions for use with ultrasound probes in the healthcare industry. Nanosonics helps bring increased efficiency and safety to the process of infection prevention through the use of its Trophon devices.

A total of 31,120 units are installed globally across the United States, Canada, the United Kingdom, Europe, and Australia.

By Mitchell Lawler: A true ASX 'growth' share, in my opinion, is a company that has the capability and ingenuity to continually expand its addressable market through product innovation. Nanosonics is delivering in this regard by building upon the success of its Trophon devices. 

The Trophon system is targeted to a specific niche in disinfection, the ultrasound probe market. Now, Nanosonics is gearing up to disrupt another segment of healthcare equipment cleaning with 'Coris', an endoscope cleaning device. 

Notably, Nanosonics' revenue is growing at an impressive rate. Total revenue for FY23 is forecast to be between 36% and 41%. Bringing new products to the market should help the company sustain this high rate of growth into the future. 

Motley Fool contributor Mitchell Lawler does not own shares in Nanosonics Ltd.

Webjet Limited

What it does: S&P/ASX 200 Index (ASX: XJO) listed Webjet provides online travel bookings in both the business-to-consumer and business-to-business segments.

By Bernd Struben: Webjet shares continue to gradually recover from the devastating 75% pandemic-fuelled drop that occurred in early 2020. The company has trimmed costs and is benefitting from a rapid return of domestic and international travel.

In November, Webjet reported its half-year underlying net profit after tax (NPAT) had returned to profit, albeit a slim one. Revenue was up 217% year on year. With global travel expected to continue rising, I believe Webjet is well-positioned to capitalise on that growth.

Indeed, analysts at Goldman Sachs forecast the company will increase earnings at a six-year CAGR of 15.3%. Goldman has a $7.20 price target on Webjet shares, around 2% above the current price.

The Webjet share price is up around 14% in 2023.

Motley Fool contributor Bernd Struben does not own shares in Webjet Limited.

Treasury Wine Estates Ltd

What it does: Treasury Wines is the name behind such wine brands as Penfolds, Wolf Blass, and 19 Crimes. It owns 11,300 hectares of vineyards and sells wine to more than 70 countries.

By Brooke Cooper: The Treasury Wine share price was hit hard by the COVID-19 pandemic and tariffs that China imposed on Aussie wine exports. Its share price is still almost 24% lower than it was in January 2020.

Of course, the company could benefit if Australia's trade relations with China were to thaw. However, even if they don't, Treasury Wines is still posting solid growth.

The company's earnings jumped 17% last half, while its post-tax profit lifted 72.5% to $188 million.

And Morgans is tipping that to continue, with Treasury Wine forecast to post double-digit earnings growth from now until financial year 2025.

Motley Fool contributor Brooke Cooper does not own shares in Treasury Wine Estates Ltd.

Xero Limited

What it does: Xero provides cloud-based accounting software for accountants, bookkeepers, small business owners, and financial advisors. Users can access the software anywhere, at any time. It provides a number of automated and time-saving features.

By Tristan Harrison: The Xero share price has taken a steep dive since November 2021, down 45%. I think it's now great value, especially considering the company continues to grow strongly.

Xero's FY23 half-year operating revenue jumped by 30% to $658.5 million, while its total subscribers increased by 16% to 3.5 million. It also has a very high gross profit margin of 87%.

Strong gross profit growth enables the business to invest heavily for growth (marketing, as well as research and development). I think this investment is the best plan for long-term shareholder value creation.

Xero is expecting its profit margins to improve in the coming results, which I think will show how profitable the underlying operations actually are. With a retention rate of over 99%, I think it has a very promising future.

Motley Fool contributor Tristan Harrison does not own shares in Xero Limited.

The post Top ASX growth shares to buy in March 2023 appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) peaked at a nine-month high on Wednesday, helped along by five shares hitting their own long-forgotten highs.

Right now, the index is up 0.28% at just under 7,500 points. That's less than 2% off the all-time high it set in August 2021.

Among the stocks rejoicing alongside the iconic index today are some of the market's most recognisable names. Let's take a look at their shiny new 52-week highs.

5 ASX 200 shares soaring to long-forgotten highs

First off the bat is ASX 200 banking giant Commonwealth Bank of Australia (ASX: CBA). It hit another record high today, peaking at $110.81 – a 0.7% gain on its previous close.

Interestingly, there's been no news from the ASX's second largest company, commanding a market capitalisation of $185 billion.

However, its stock has now bested its previous 52-week high for four consecutive sessions.

Joining CBA shares in posting a new 12-month high are those of Rio Tinto Ltd (ASX: RIO). Stock in the iron ore giant rocketed 1.7% earlier today to a high of $128.78.

Investors might be snapping up Rio Tinto shares for the company's exposure to iron ore and copper, or its whopping dividend yield. Whatever the reason, it appears to be good news for the Rio Tinto share price.

And who could forget shares in ASX 200 travel giant Webjet Limited (ASX: WEB)? They launched 2.3% earlier today to reach $7 – the highest the stock has been since the onset of the COVID-19 pandemic.

That's despite only silence from the online travel agent. Indeed, the last time the market heard news from Webjet was back in November. And investors might have more time to wait.

The company isn't expecting to post its full-year earnings until May.

The Treasury Wine Estates Ltd (ASX: TWE) share price is also taking off today, peaking at $14.84 – a 2.2% gain on its previous close and another post-pandemic high.

The company has been tipped to benefit if tensions between Australia and China ease this year.

Finally, also posting a new 52-week high today is ASX 200 healthcare share Pro Medicus Limited (ASX: PME). It soared 1.4% to hit $67.80 shortly after the market opened today.

The stock has been on a roll in 2023, gaining 22% year to date amid news of contracts with Samaritan Health Service and the University of Washington.

The post 5 ASX 200 shares smashing new 52-week highs on Wednesday appeared first on The Motley Fool Australia.

Here's what its analysts are saying about these explosive ASX growth shares right now:

Temple & Webster Group Ltd (ASX: TPW)

The first ASX growth share that Goldman Sachs says investors should buy is Temple & Webster. It is Australia's leading pure-play online retailer of furniture and homewares.

Goldman is tipping the company to grow at a rapid rate long into the future. It said:

TPW is early in its maturity cycle supporting long-term, sustainable growth. We forecast a +22% 10-yr EBITDA CAGR driven by consolidation of market share and growing online penetration. We do not think the market is pricing in upside from long term market share gains: If TPW can scale at a similar rate to JBH's early growth this could see >100% upside to our current valuation.

The broker is so positive on the company that it has just added its shares to its conviction list. Goldman has a conviction buy rating and $7.60 price target.

Webjet Limited (ASX: WEB)

Another ASX growth share that Goldman rates as a buy is online travel booking company Webjet.

It believes the company has comes out of the pandemic in a significantly stronger position. So much so, it is expecting Webjet to grow its earnings at a six-year compound annual growth rate of 15.3%. It commented:

Our near term earnings changes remain modest given that we already price in a strong recovery for WEB in FY24/25. What these results have given us greater confidence is in the group's longer term outlook for both the Bedbanks and OTA businesses. WEB also continues to report strong cash generation.

Goldman has a conviction buy rating and $7.20 price target on its shares.

The post 2 explosive ASX growth shares to buy now: Goldman Sachs appeared first on The Motley Fool Australia.

The good news is that Goldman Sachs has been looking at the sector and recently named three of the best travel shares to buy now.

According to notes, the broker believes that Corporate Travel Management Ltd (ASX: CTD), Qantas Airways Limited (ASX: QAN), and Webjet Limited (ASX: WEB) are the ASX 200 travel shares to buy right now.

In fact, Goldman is so positive on these three shares that it has put them on its coveted conviction list.

Here's what the broker is saying about them:

Corporate Travel Management

This morning, Goldman has reiterated its conviction buy rating with a $20.30 price target on this corporate travel specialist's shares. Ahead of its half year results, the broker commented:

For CTD, we view the recent trends in market multiples and consensus momentum as being unwarranted. We expect reiteration of FY23 guidance, recovery in North America and cash flow as three key factors to watch for which could assist re-rating of the stock this earnings season.

Qantas

Goldman recently stated its belief that the Qantas share price was undervalued at the current level given its positive outlook. It has a conviction buy rating and $8.20 price target on its shares. The broker commented:

With the market capitalization 10% above pre-COVID levels and EV (based on last reported net debt) 8% below pre-COVID, we believe the stock is not appropriately pricing QAN's improved earnings capacity. Specifically, our FY23e EPS forecast is 58% above FY19a levels with group capacity still 21% below pro-COVID levels. Even as the yields moderate (with capacity restoration) our FY24e EPS (100% of FY19 capacity) is 46% above FY19 levels.

Webjet

Finally, the broker has a conviction buy rating and $7.20 price target on Webjet's shares. While the company won't be releasing results in February, Goldman sees scope for a re-rating. It said:

WEB is an off-cycle earnings stock with the earliest company disclosed catalyst only expected in May 2023. However, we note that WEB continues to be a preferred pick for us in the travel space heading into the February results season as we expect the industry momentum and relative performance for Webjet's OTA business vs. FLT will drive continued re-rating of the stock.

The post 3 of the very best ASX 200 travel shares to buy according to Goldman Sachs appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) traded in the red for just the fourth time this year today, falling 0.3% to close at 7,468.3 points.

And no prizes to those who can guess why. Market experts were shocked by the latest Australian inflation data, released late this morning.

The Australian Bureau of Statistics (ABS) found the Consumer Price Index (CPI) rose 1.9% in the December quarter and  7.8% over the course of 2022. Those figures were notably higher than consensus forecasts of 1.6% and 7.6%, respectively.

The likelihood the Reserve Bank of Australia could begin easing rates next month likely diminished on the findings, thereby disappointing investors.

On a more positive note, the S&P/ASX 200 Financials Index (ASX: XFJ) outperformed despite the inflation read today. It gained 0.3%.

Interestingly, the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) also gained, rising 0.4%, while the S&P/ASX 200 Utilities Index (ASX: XUJ) led the market, lifting 0.5%.

Meanwhile, the rates-sensitive S&P/ASX 200 Information Technology Index (ASX: XIJ) fell 1.2% and the S&P/ASX 200 Energy Index (ASX: XEJ) dropped 1.2%.

But enough of that. Let's take a look at the 10 shares that posted the ASX 200's biggest gains on Wednesday.

Top 10 ASX 200 shares countdown

Today's top performing share on the index was News Corp (ASX: NWS).

The stock jumped 6% to close at $29.93 after the company revealed it won't be merging with Fox Corporation and confirmed it's in talks to sell its Move, Inc business.

These shares made today's biggest gains:

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

This year has brought good tidings to the S&P/ASX 200 Index (ASX: XJO) and these five shares are among those making the most of it.

They've each jumped as much as 5.8% to reach their highest point in more than a year on Tuesday.

Meanwhile, the iconic index is up 0.44% at 7,490.4 points at the time of writing. That's 7.8% higher than it was at the start of the year.

Let's take a closer look at what's sent these market giants soaring today.

These ASX 200 shares are roaring to long-forgotten heights

The first ASX 200 share posting a new 52-week high is Clinuvel Pharmaceuticals Limited (ASX: CUV). Stock in the biopharmaceutical developer lifted 2.6% to reach $27.42 earlier today – the highest it's been since 2021.

It follows yesterday's news of the company's analogue adrenocorticotropic hormone (ACTH). It's aiming to submit a regulatory drug master file for the product in the second half of this year – an "aggressive goal" according to chief scientific officer Dr Dennis Wright.

The Mineral Resources Ltd (ASX: MIN) share price is also rocketing on Tuesday, hitting a new record high amid a broker upgrade. The stock peaked at $96.78 earlier today – a 5.8% gain.

UBS has reportedly upped its expectations for lithium. It now tips demand to outweigh supply in the near and medium term, the Australian Financial Review reports.

In response, it's slapped a buy rating on shares in the ASX 200 materials giant.

Meanwhile, the TechnologyOne Ltd (ASX: TNE) share price is in the green for a third consecutive day. It follows the release of the company's non-price-sensitive annual report on Thursday evening.

The tech stock reached an all-time high of $14.705 today – marking a 2% rise.

ASX 200 travel giant Webjet Limited (ASX: WEB), on the other hand, popped then dropped today, hitting a post-pandemic high of $6.86 this morning before plunging into the red.

Today's peak saw the stock 1.2% higher than its previous close and around 170% higher than its 2020 low.

Finally, shares in ASX 200 health imaging technology provider Pro Medicus Limited (ASX: PME) have continued to inch towards their all-time high today.

The stock has posted a new 52-week high for a third consecutive session. This time it peaked at $64.77 – a 2.4% jump.

Its gains might be a belated reaction to Friday's announcement, detailing a $25 million contract with the University of Washington.  

The post 5 ASX 200 shares rocketing to new 52-week highs on Tuesday appeared first on The Motley Fool Australia.

The ASX travel share sector has seen robust performance overall as demand returns for destination travel.

But will Webjet be able to keep impressing investors?

Strong recovery

A couple of months ago, the business announced its FY23 first-half result.

It said that total transaction value (TTV) had jumped 223% year over year to $2.14 billion. This helped revenue rise by 217% to $175.7 million and underlying earnings before interest, tax, deprecation, and amortisation (EBITDA) jump 557% to $72.5 million.

Webjet said that this result was underpinned by its efforts as soon as the pandemic hit to ensure that each business was "optimally positioned to recapture demand once travel returned. Recovery is substantially accelerating and WebBeds is leading the charge", according to the company.

WebBeds saw all regions achieve "significant" organic growth, particularly in Europe. In North America, the business is now three times bigger than before COVID-19 began.

Webjet also boasted that it was one of the most profitable online travel agents in the world before the pandemic, implying this could be the case with the recovery as well.

Can the Webjet share price keep performing?

Webjet suggested that WebBeds is picking up market share in all regions, with the capability to scale rapidly. It said that FY23 third-quarter bookings and TTV were tracking at more than 30% ahead of pre-pandemic levels. FY23 EBITDA is also "expected to be higher than it was pre-pandemic".

Webjet's online travel agency business has "increased its market share by 57% since the pandemic began". It thinks that new technology has "enormous potential" to increase its share of the international flights market.

With demand for travel reportedly strong, the restoration of airline capacity will drive profitability for the Webjet OTA [online travel agent] business.

Using Commsec estimates, the Webjet share price is valued at 22 times FY24's estimated earnings, showing that the business could generate a solid profit in the next financial year.

According to the consensus of analyst opinions that Commsec covers, it's rated as a buy by nine, rated as a hold by five, and only two currently rate it as a sell.

I believe that Webjet has a promising future, but I'd only start off with a small position at the current price level and consider buying more on any dips. It could start paying a dividend in FY24, which could be useful for boosting returns.

The post Up 30% in six months: Can the Webjet share price fly even higher? appeared first on The Motley Fool Australia.

There isn't a bell that rings that tell us when the bear market low has been reached. There were two moments of lows for the S&P/ASX 200 Index (ASX: XJO) in 2022 – in June and the end of September/start of October. Volatility is likely to continue but we may have already seen the bottom.

I think the market tends to hit its lowest when things are looking the most unknown. When it seems uncertain how things are going to go, I believe that's when share prices decline the most. However, when the bad factors are known and predicted, that seems to be when investors are more comfortable with the situation and share prices start rising.

For example, interest rates are even higher in the US and Australia than a few months ago. That's meant to put even more pressure on valuations, in theory. Yet, the ASX 200 is up by around 14% since 20 June 2022.

Why I think it's time to invest in ASX shares

I want to buy ASX shares as cheaply as possible. But, history tells me the low prices, as we've seen over the past several months, are likely to stick around only for so long. The share market and earnings have risen over time and I think that can continue in the coming years.

If we can buy investments at a cheaper price then it will help long-term returns, including a better dividend yield. As well, US inflation may be starting to come down.

We don't know what share prices are going to do in the future, but I can see a wide range of opportunities on the ASX today.

By the time economic conditions start improving, the share market could already have gone through a recovery. We'll just have to see how large the recovery is, considering interest rates are likely to stay higher than they have been over the last few years.

We've already seen a number of ASX shares rebound to get close to 52-week highs such as Webjet Limited (ASX: WEB), Lovisa Holdings Ltd (ASX: LOV), and TechnologyOne Ltd (ASX: TNE).

Which ideas could still be good value?

I regularly write articles about ASX shares that could make good investments. The Motley Fool website is a great place to find ideas.

In my opinion, heavily-hit names like Xero Limited (ASX: XRO), Pinnacle Investment Management Group Ltd (ASX: PNI), and Temple & Webster Group Ltd (ASX: TPW) are still long-term opportunities.

I also like the long-term tailwinds for companies such as Adore Beauty Group Ltd (ASX: ABY) and Estia Health Ltd (ASX: EHE).

This could also be a great time to consider an investment like a leading exchange-traded fund (ETF) such as Betashares Nasdaq 100 ETF (ASX: NDQ) that has fallen heavily.

The post Waiting for ASX shares to bottom? Why you could miss out on a stock market rally appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) is on a roll today, and so are four shares that call it home.

They've each shot up to reach new 52-week highs on Friday.

Right now, the ASX 200 is up 0.89%, trading at 7,345 points.

Let's take a look at some of its constituents making the most of their day in the green.

Which ASX 200 shares have hit long-forgotten highs today?

The first ASX 200 share posting a new 52-week high today is also the market's biggest participant, BHP Group Ltd (ASX: BHP).

The ASX 200 mining giant soared to $49.92 earlier today – a new record high and a 1.1% increase on its previous closing price.

Its gains came amid a good session for the S&P/ASX 200 Materials Index (ASX: XMJ). The sector is up 0.65% right now amid Goldman Sachs' broadly bullish outlook for the sector.

BHP shares are joined in the green by Northern Star Resources Ltd (ASX: NST) stock.

The ASX 200 gold producer's share price launched 2.6% earlier today to a near-two-year-high of $12.32.

It came after gold futures hit their highest point since May 2022, reaching US$1,898.80 an ounce overnight.

Soaring to join the miners at a new 52-week high is Aussie icon Qantas Airways Limited (ASX: QAN).

The Qantas share price took off this morning, climbing 1.6% to $6.52. That leaves the ASX 200 airline share nearly on par with where it was in February 2020 – arguably a milestone in the company's pandemic recovery.

It's also the third consecutive day in which the stock surpassed its previous 12-month high.

Also posting a third consecutive 52-week high is fellow ASX 200 travel share Webjet Limited (ASX: WEB).

Shares in the online travel agent leapt 1.5% to peak at $6.69 this morning.

Though, that's still 32% lower than it was before the onset of the pandemic.

The post 4 ASX 200 shares celebrating Friday with new, 52-week highs appeared first on The Motley Fool Australia.

But it's been an even more exciting day for more than a few ASX 200 shares. So let's discuss five such shares that have just hit new 52-week highs this session.

BHP amongst ASX 200 shares smashing new highs today

First up is BHP Group Ltd (ASX: BHP). BHP shares hit a new record high just yesterday. But clearly, investors weren't done with showering the ASX 200's largest company with glory.

BHP has again climbed to fresh new highs today, hitting $49.50 just after midday. Investors probably have soaring iron ore prices to thank for this optimism.

Another ASX 200 resources share in Northern Star Resources Ltd (ASX: NST). This gold miner has been on fire lately, thanks largely to rising precious metal prices, and is up an extraordinary 70% or so since late September.

Today, Northern Star shares hit a new 52-week high of $12.13 just before midday.

A change of pace now, let's look at Lifestyle Communities Ltd (ASX: LIC). This residential property company has also had a fantastic couple of months, increasing its value by a third since September. That trend continues this Thursday, with Lifestyle Communities shares hitting a new 52-week high of $20.19 a share.

ASX travel shares soar

ASX 200 travel shares are having a dream run today as well. And one of the obvious winners is the Webjet Limited (ASX: WEB) share price. Webjet shares are booming today and hit a new 52-week high of $6.59 each this afternoon.

The company still has a long way to go before it reaches its pre-COVID highs in the $9 to $10 range. But today's new high is still a big moment for Webjet, which is now more than 160% above its 2020 lows of around $2.50 a share.

Another ASX 200 travel share flying high today is Qantas Airways Limited (ASX: QAN). Qantas shares soared to a new high watermark of $6.45 each this morning – a new post-COVID high for the national carrier.

Again, Qantas isn't quite back to its pre-COVID levels of over $7 a share, but this is still a big win for investors. Perhaps investor optimism over the reopening of China is at play with both Qantas and Webjet right now.

The post 5 ASX 200 shares smashing new, 52-week highs on Thursday appeared first on The Motley Fool Australia.

There are a number of different travel names on the ASX including Corporate Travel Management Ltd (ASX: CTD), Qantas Airways Limited (ASX: QAN), Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB).

Chinese travellers to drive ASX travel shares higher?

According to reporting by CNBC, Australia could be about to benefit from Chinese travellers returning to the country,

JPMorgan's chief investment strategist Tom Kenney said:

China's shift toward an earlier reopening raises the question of potential implications for the Australian economy.

The largest potential upside from reopening itself sits within the services sector given China is the largest consumer of Australian tourism and education exports.

Our expectation is for the tourism-related consumption impulse to be spread over 2023 and 2024.

While the duration adjusted spending numbers are less striking, real GDP is an aggregate concept and so the absence of Chinese tourism has been a notable headwind

A full recovery of Australian tourism could add 0.5 percentage points to the GDP, while the return of international students from China could add another 0.4 percentage points. In total this might add around 1% to Australian GDP. This could be a nice boost for ASX 200 travel shares.

CNBC noted that in 2019, Chinese arrivals accounted for 15.3% of Australia's inbound tourism – it was the largest source of short-term visitors.

But, Australian Bureau of Statistics (ABS) data showed that a total of 430,470 short-term trips were made to Australia in October – this data was released in December. This total number of trips was 44% lower than the same level in 2019, according to CNBC.

Could this be a benefit?

It certainly could. Different ASX 200 travel shares have varying levels of exposure to Chinese travellers.

But, the more mobile Chinese tourists and business people become, the more likely they are to use a Qantas plane, an ASX-owned travel agent or use ASX-listed corporate travel services.

In the Qantas market update during mid-October 2022, the company said that group domestic capacity will be 94% of pre-COVID levels in the FY23 first half, growing to around 100% for the second half. International capacity is expected to increase from 61% of pre-COVID levels in the FY23 first half to 77% in the second half.

In other words, Qantas' international capacity is still materially below pre-COVID times with some of those travel routes not seeing the same demand as before. A return of Chinese visitors could go some way to closing that gap.

The post Could ASX 200 travel shares be set for a major boost in 2023? appeared first on The Motley Fool Australia.

As you can see below, during the 12 months, the online travel agent's shares rose a sizeable 19.5%.

This compares favourably to the ASX 200 index, which declined 5.5% during the same period.

What drove the Webjet share price higher?

Investors were buying Webjet shares last year after its recovery from the pandemic gathered pace.

For example, in FY 2022 Webjet reported a 261% increase in total transaction value (TTV) to $1,638 million and a 258% jump in revenue to $138 million.

And while Webjet still posted an underlying loss of $38.4 million for the 12 months, management revealed that the company was profitable during the second half and delivered positive cash flow. In light of this result, a return to profit was now expected in FY 2023.

The good news is that Webjet is on course to achieve this. In November, the company released its half year results for FY 2023 and revealed an underlying half year profit after tax of $32 million.

The even better news was that the company was on track to exceed pre-pandemic profitability in FY 2023, with second half EBITDA expected to exceed pre-pandemic levels by at least $10 million.

Investors responded positively to what Managing Director John Guscic described as a "spectacular turnaround" for the company, which led to the Webjet share price shooting higher on the day.

Will its shares continue to rise in 2023?

Webjet shares may have smashed the market last year, but a number of brokers still believe they can keep rising.

For example, Goldman Sachs has a conviction buy rating and $6.90 price target on the company's shares. This implies potential upside of 10% for Webjet shares over the next 12 months.

The team at Morgans is also bullish and has an add rating and $7.20 price target.

Based on the current Webjet share price of $6.27, this suggests potential upside of 15% for investors this year. Morgans commented:

In our view, WEB hasn't wasted a crisis and will come out of COVID with a materially lower cost base, consolidated systems and a large business in the US. With plenty of market share still to win, we maintain an Add rating on WEB.

The post The Webjet share price recovered 20% in 2022. Is this just the beginning? appeared first on The Motley Fool Australia.

Ahead of the market reopening on Tuesday, I thought I would look at which ASX shares are being tipped as buys for the year ahead.

Listed below are 23 ASX shares that have been named as buys by brokers for 2023:

Accent Group Ltd (ASX: AX1)

Goldman Sachs has a buy rating and $2.20 price target on this footwear and fashion retailer's shares. It likes the company due to its exposure to younger consumers.

Adairs Ltd (ASX: ADH)

This furniture and homewares retailer could be an ASX share to buy according to Goldman Sachs. The broker believes its business model is more resilient than the market appreciates. The broker has a buy rating and $2.85 price target on its shares.

Allkem Ltd (ASX: AKE)

Goldman Sachs is also a fan of this lithium miner and has a buy rating and $15.20 price target on its shares. It points out that Allkem has the "strongest 5-yr lithium production growth [and trades] at a discount to peers."

Arafura Rare Earths Ltd (ASX: ARU)

Bell Potter has a speculative buy rating and 64 cents price target on this rare earths developer's shares. It notes that the company's Nolans project is "anticipated to feed potentially 8% of global supply directly into the permanent magnet market servicing expansion of electric vehicles and wind turbines."

Aristocrat Leisure Limited (ASX: ALL)

Citi has a buy rating and $41.20 price target on this gaming technology company's shares. Its analysts see the "land-based business as well positioned and remain optimistic on the RMG opportunity."

BHP Group Ltd (ASX: BHP)

Macquarie is positive on this mining giant and has an outperform rating and $50.00 price target on its shares. The broker expects the Big Australian to benefit greatly from favourable commodity prices.

CSL Limited (ASX: CSL)

Another ASX share to consider is CSL. Analysts at Citi have a buy rating and $340.00 price target on the biotherapeutics giant's shares. It is forecasting earnings per share growth greater than 20% in both FY 2023 and FY 2024.

Domino's Pizza Enterprises Ltd (ASX: DMP)

Morgans has an add rating and $90.00 price target on this pizza chain operator's shares. The broker believes that "now is the best time to consider an investment in a quality business like DMP that is facing headwinds that will reverse in time."

Goodman Group (ASX: GMG)

Citi has a buy rating and $23.50 price target on this industrial property company's shares. "[We] continue to favour industrial exposure, and remain attracted to GMG's best-in-class balance sheet. We continue to see potential for upside to guidance."

IDP Education Ltd (ASX: IEL)

The team at Morgan Stanley has an overweight rating and $36.80 price target on this language testing and student placement company's shares. It believes China's reopening from COVID-19 could be a big boost to its business.

Life360 Inc (ASX: 360)

Analysts at Bell Potter are bullish on this location technology company and have a buy rating and $9.00 price target on its shares. It expects that "recent price rises in the core business [are] likely to drive strong top line growth" in FY 2023.

Mineral Resources Ltd (ASX: MIN)

Morgans has an add rating and $94.00 price target on this mining and mining services company's shares. It is a fan due to its transformation "from being primarily leveraged to high-cost/short-life iron ore operations to low-cost/long-life iron ore and lithium assets."

National Australia Bank Ltd (ASX: NAB)

Analysts at Goldman Sachs are positive on this big four bank. The broker has a buy rating and $35.41 price target on its shares. Goldman's analysts "see volume momentum over the next 12 months as favouring commercial volumes over housing volumes and NAB provides the best exposure to this thematic."

Newcrest Mining Ltd (ASX: NCM)

Morgan Stanley is bullish on this gold miner and has an overweight rating and $23.40 price target on its shares. It feels the current environment is positive for the gold price.

Novonix Ltd (ASX: NVX)

Morgans has a speculative buy rating and $3.11 price target on this battery technology company's shares. It notes that "NVX offers ASX investors an opportunity to get direct exposure to the North American battery market."

Nufarm Ltd (ASX: NUF)

Bell Potter is positive on this ASX share. It currently has a buy rating and $7.50 price target on the agricultural chemicals company's shares. It expects a strong result in FY 2023 thanks to "crop protection demand in the US and Europe and a growing contribution from new revenue streams in Omega-3."

Pilbara Minerals Ltd (ASX: PLS)

Morgans currently has an add rating and $4.70 price target on this lithium miner's shares. It believes recent share price weakness has created a buying opportunity.

Qantas Airways Limited (ASX: QAN)

This airline operator could be a buy according to Goldman Sachs. Its analysts have a conviction buy rating and $8.20 price target on its shares. The broker said: "Against the backdrop of substantially improved earnings capacity, we believe the stock is not even priced for a generic recovery."

Telstra Group Ltd (ASX: TLS)

Morgan Stanley has an overweight rating and $4.75 price target on this telco giant's shares. It believes the potential offloading of infrastructure assets could unlock value for shareholders.

Webjet Limited (ASX: WEB)

Analysts at Morgans are positive on this online travel agent and have an add rating and $7.20 price target on its shares. It feels that "WEB hasn't wasted a crisis and will come out of COVID with a materially lower cost base, consolidated systems and a large business in the US."

Westpac Banking Corp (ASX: WBC)

Goldman Sachs is very bullish on Australia's oldest bank. It has a conviction buy rating and $27.60 price target on its shares. The broker believes "double digit total shareholder returns remains achievable over the next three years."

Whitehaven Coal Ltd (ASX: WHC)

Strong coal prices make this an ASX share to buy according to Macquarie. It has an outperform rating and $12.50 price target on coal miner's shares.

Xero Limited (ASX: XRO)

Finally, Citi sees a lot of value in this cloud accounting platform provider's shares and has a buy rating and $97.90 price target on them. It expects "digitisation to be a bigger driver than macro for online accounting."

The post 23 ASX shares to buy in 2023 – brokers appeared first on The Motley Fool Australia.

The Flight Centre Travel Group Ltd (ASX: FLT) share price is in the red today.

Flight Centre shares are sliding 2.74% and are currently fetching $14.21. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 1.07% at the time of writing.

Let's take a look at what might be weighing on the Flight Centre share price.

Travel chaos continues

Flight Centre is not the only ASX 200 travel share struggling today. The Qantas Airways Limited (ASX: QAN) share price is down 2.47%, while Webjet Limited (ASX: WEB) shares are falling 1.84%.

Australian airline shares are following in the footsteps of United States travel shares. United Airlines Holdings Inc (NASDAQ: UAL) shares dropped 2.38%, while Delta Air Lines Inc (NYSE: DAL) shares fell 2.77% and Southwest Airlines Co (NYSE: LUV) tumbled 5.16%.

There was flight cancellation chaos amid blizzards and winter storms. Southwest Airlines cancelled nearly 10,000 flights across the country in three days, Business Traveler USA reported.

Flight Centre has operations and offices globally, including in the United States.

The USA also announced overnight they will require negative COVID tests for travellers from China, including Hong Kong and Macau, The New York Times reported. Japan and Italy have also announced similar measures.

A decision on introducing a similar measure in Australia for travellers from China has yet to be made. Health Minister Mark Butler, in quotes cited by news.com.au, said:

The Australian government continues to monitor the global situation. Travel arrangements for Australians and visitors to the country remain unchanged.

Flight Centre is predicting continued momentum company-wide in FY23. In November, the company reported its cost margin is improving and tracking at 10% in the year to date. This is in line with the company's pre-COVID transformation target. The company is predicting more rapid improvement during the second half of the financial year.

Share price snapshot

The Flight Centre share price has descended 20.35% in the last year.

For perspective, the ASX 200 has shed 6.65% in the last year.

The post Why is the Flight Centre share price in the red today? appeared first on The Motley Fool Australia.

But, there were a handful outside of those sectors that have performed well this year and could see another strong year in 2023 if all goes to plan.

Lovisa Holdings Ltd (ASX: LOV)

In 2022 to date, the Lovisa share price has risen by 14%, which I think is solid considering retailers are down, such as the Wesfarmers Ltd (ASX: WES) share price which has dropped by 23%.

This ASX share sells affordable jewellery which is targeted at younger shoppers. It saw exceptional net profit after tax (NPAT) growth in FY22, with a rise of 116.3% partly thanks to 59.3% growth in revenue. I think this shows the pleasing operating leverage that the business has.

FY23 has started off very well. Global comparable store sales for the first 19 weeks of FY23 were up 16.1% on FY22 for the year to date, with total sales for this period up 60% on FY22. This could signal another year of solid profit growth.

It continues to open new stores (with a net 47 added to 18 November 2022) and it has recently opened in new markets including Canada, Poland and Hong Kong. If it expands into mainland China, this could be a useful driver for earnings, which could then help the Lovisa share price.

According to Commsec, the Lovisa share price is valued at 32 times FY23's estimated earnings.

Webjet Limited (ASX: WEB)

In 2022 to date, the Webjet share price has gone up 13%. The business may be classed as an ASX growth share by some investors, but it has suffered significantly during COVID-19. But, now that demand is returning, the business is seeing profitability quickly return.

In the first half of FY23, the company saw a 223% increase in total transaction value (TTV) to $2.14 billion, a 217% increase in revenue to $175.7 million and a 557% rise of underlying earnings before interest, tax, depreciation and amortisation (EBITDA) to $72.5 million.

There could be more recovery in the short-term because that first half showed that TTV was only 90% of pre-pandemic levels and underlying EBITDA was 69% of pre-pandemic levels.

The ASX share has done a lot of work on making WebBeds (the business to business travel segment) more profitable and efficient, which is why management expects this division to exceed pre-COVID profitability in FY23.

WebBeds is seeing strong demand – FY23 third-quarter bookings and TTV were tracking ahead of pre-COVID levels in mid-November.

Treasury Wine Estates Ltd (ASX: TWE)

In 2022, the Treasury Wine Estate share price has risen by around 8%.

This ASX share has a portfolio of wine brands, both cheaper and more expensive ones, which are sold around the world. TWE has done a good job of sending its wine to different markets after Chinese tariffs put up a large barrier to Australian wine going to Chinese consumers.

The Treasury Wine Estate share price remains over 20% below pre-COVID times. But, if Australian diplomatic efforts to reconnect with China go well, the wine industry could get a sizeable boost.

Just before Christmas, Foreign Minister Penny Wong visited China to re-engage with the Asian superpower. The ABC reported that "there would be further developments on various trade issues related to 'blockages'".

The positive case isn't just related to China – the long-term growth of the company in the rest of the world could still go well. But, it could be a big boost if China does start buying large quantities of wine again.

The post 3 big ASX share winners in 2022 that could soar again next year appeared first on The Motley Fool Australia.

Are we heading for a global recession in 2023 or is the worst already behind us? With so many conflicting expert opinions floating around, it's impossible to know with any certainty.

But what we do know for sure is that the stock market has never NOT bounced back to reach new record highs following its down periods.

Whilst a rebound might not happen next week or next month, if history is anything to go by, it will definitely happen.

So, we asked our Foolish contributors which ASX growth shares they think are worth jumping on now to make the most of the coming bounce back.

Here is what the team came up with:

7 ASX growth shares for a bounce back (smallest to largest)

• Temple & Webster Group Ltd (ASX: TPW), $516.22 million
• Jumbo Interactive Ltd (ASX: JIN), $887.81 million
• Life360 Inc (ASX: 360), $1.02 billion
• Webjet Limited (ASX: WEB), $2.34 billion
• Altium Limited (ASX: ALU), $4.61 billion
• Domino's Pizza Enterprises Ltd (ASX: DMP), $5.67 billion
• Xero Limited (ASX: XRO), $10.3 billion

(Market capitalisations as of 21 December 2022)

Why our Foolish writers love these ASX shares

Temple & Webster Group Ltd

What it does: Temple & Webster is Australia's largest pure-play online retailer of furniture and homewares. It sells over 200,000 products from hundreds of suppliers, and it also has a drop-ship model, where products are sent directly to customers by suppliers. This enables "faster delivery times, reduces the need to hold inventory, and allows for a larger product range".

The company also has a private label range and a website called The Build that is focused on home improvement products like flooring, cabinets, plumbing, lighting, curtains, and so on.

By Tristan Harrison: The Temple & Webster share price has sunk by over 60% in 2022 which, in my opinion, makes it look like pretty great value.

While lockdowns 12 months ago make it difficult for the company to beat its year-over-year numbers, it is expecting to return to "double-digit growth during this financial year".

Temple & Webster is also focused on unit economics and profitability. It's expecting an earnings before interest, tax, depreciation and amortisation (EBITDA) profit margin of between 3% and 5%. Longer term, margins could improve thanks to more private label sales, marketing and variable cost efficiencies, and scale benefits for key costs like freight and cost of goods.

Adoption of digital shopping for home items in Australia is predicted to rise from its current level of 17% of the whole market. In the United Kingdom, online shopping for furniture and homewares was around 30% of the entire market in 2021. This suggests considerable potential upside for online retailers like Temple and Webster over time.

Motley Fool contributor Tristan Harrison does not own shares of Temple & Webster Group Ltd.

Jumbo Interactive Ltd

What it does: Jumbo Interactive operates an online platform for the sale of lottery tickets and fundraising activities. The company's platforms are now active across Australiasia, the United Kingdom, and Canada – reaching 4 million active players.

By Mitchell Lawler: This year has not been kind to the Jumbo Interactive share price, despite rather solid results. Since the beginning of 2022, shares in the online lottery operator have tumbled by around 26%.

But, in my mind, Jumbo is in the strongest position it has ever been. The company completed its acquisition of StarVale in November, further strengthening its position in the UK. The deal marks another display of management's ability to deploy its profits to make earnings-accretive acquisitions globally.

This is a company that generates post-tax profits at a 30% margin and holds nil debt. If the Jumbo management team can continue to efficiently use capital to expand operations, today's share price could look cheap in the event of a market rebound.

Motley Fool contributor Mitchell Lawler owns shares of Jumbo Interactive Ltd.

Life360 Inc

What it does: Life360 is the technology company behind the eponymous Life360 freemium mobile app, which boasts 47 million monthly active users. It offers users features that range from communications to driving safety and location sharing.

By James Mickleboro: It has been a tough year for the Life360 share price. The market's sudden aversion to loss-making tech companies means that the company's shares are down almost 50% year to date. This is despite Life360 expecting to more than double its revenue to between US$225 million and US$240 million this calendar year.

The good news is that its loss-making days are almost over, with management expecting the company to be cash flow positive next year. In the meantime, Life360's cash balance of approximately US$85 million is materially more than needed to get it through to breakeven.

In light of this, I think now is the time to focus on the company's very strong, long-term growth potential in a huge US$12 billion total addressable market, globally. I also suspect a re-rating of Life360 shares could happen when the market rebounds and the company achieves positive cash flow.

Motley Fool contributor James Mickleboro owns shares of Life360 Inc.

Webjet Limited

What it does: Most Australians likely know Webjet as an online travel agency, but the company's business covers much more ground than that. Perhaps its most notable additional foray is its WebBeds business-to-business offering – a provider of accommodation services to the travel industry.

By Brooke Cooper: The Webjet share price has outperformed in 2022, rising almost 20% year to date to trade at $6.18 at the time of writing. However, that's still around 37% lower than it was prior to the onset of the COVID-19 pandemic.

Fortunately, Goldman Sachs has tipped the stock to regain notable ground. The broker believes Webjet is a conviction buy, recently slapping it with a $6.90 price target.

Such confidence comes as the company exits the pandemic far larger than it entered. And that growth might just be the start.

As my Fool colleague reported last week, Goldman Sachs expects Webjet's earnings to boast a six-year compound annual growth rate (CAGR) of 15.3%.

Motley Fool contributor Brooke Cooper does not own shares of Webjet Limited.

Altium Limited

What it does: Altium is a multinational software company that focuses on electronics design systems for 3D printed circuit board (PCB) design and embedded system development.

By James Mickleboro: Another ASX growth share I think could be a buy right now is Altium. Although its shares have fared a lot better than some other tech stocks in 2022, they are still down meaningfully compared to the benchmark S&P/ASX 200 Index (ASX: XJO).

And when the market rebounds, I think Altium could rebound along with it. Particularly given the company's very bright long-term growth prospects.

Thanks to Altium's leadership position in the industry, and favourable tailwinds such as growth in demand for the Internet of Things and artificial intelligence, management is aiming to grow revenue to US$500 million by 2026 with an EBITDA margin of 38% to 40%.

This will be more than double FY2022's revenue of US$220.8 million and an improvement on FY2023's EBITDA margin guidance of 35% to 37%. I expect this to underpin strong profit growth over the coming years, which could help drive Altium shares higher.

Motley Fool contributor James Mickleboro owns shares of Altium Limited.

Domino's Pizza Enterprises Ltd

What it does: Domino's is Australia's largest pizza chain, offering delivery, takeaway, and dine-in restaurant services nationally. It also operates internationally, with a total of over 2,800 stores across 10 markets.

By Matthew Farley: The Domino's Pizza share price has dropped almost 45% year to date, but some experts believe this lower price now offers great value for investors.

This includes one broker from Morgans who slapped Domino's shares with a price target of $90 earlier this month. That makes for a potential 38% upside from the current share price, at the time of writing.

The broker went on to say that Domino's has been battling with the headwinds of lower sales and a higher cost basis for its products. However, these issues were described as being "transitory in nature". If this proves to be correct, the company's revenues and margins could be poised to improve significantly, moving forward.

Motley Fool contributor Matthew Farley does not own shares of Domino's Pizza Enterprises Ltd.

Xero Limited

What it does: Xero is a provider of cloud-based accounting software. The platform helps small-business users efficiently manage the financial and regulatory requirements of running their companies.

By Sebastian Bowen: Xero shares have had a very rough year or so. This was an ASX 200 stock that was trading at more than $150 a share back in November 2021, more than double the current price. So, you'd think that Xero's business has been facing some kind of calamity.

Well, not quite. Back in May, Xero reported that it had grown subscribers by 19%, revenues by 29% and earnings by 11% over the 12 months to 31 March 2022.

More recently, Xero reported a 30% rise again in revenues covering the six months to 30 September 2022, with earnings up 11% and subscribers growing by 16%.

If there is a stock market rebound next year, I think it's likely that investors will find a new appreciation for this ASX growth share.

Motley Fool contributor Sebastian Bowen does not own shares of Xero Limited.

The post Top ASX growth shares to buy for a stock market rebound appeared first on The Motley Fool Australia.

S&P/ASX 200 Index (ASX: XJO) shares can be some of the leading names in their industry. Companies that can achieve good growth during this difficult period ahead may be able to outperform the market.

Wilson Asset Management (WAM) is one of the fund managers that likes to look for undervalued ASX growth shares. The investment team usually tries to identify a catalyst, or an event, that could boost the share price of the business.

In an update for investors, WAM named these two ASX 200 shares as opportunities.

Webjet Limited (ASX: WEB)

The fund manager describes Webjet as a global travel booking business spanning both wholesale and retail markets.

Last month, Webjet revealed its FY23 half-year result, which included its performance of generating $72.5 million of earnings before interest, tax, depreciation, and amortisation (EBITDA), which beat market expectations.

WAM put the performance down to WebBeds, which is Webjet's business-to-business travel wholesaler division. WebBeds' bookings and EBITDA margins beat pre-COVID levels.

The business-to-business segment benefited from a return to travel over the northern hemisphere's summer and the "substantial" market share it gained during the summer.

Webjet shares have risen 13% since 16 November 2022.

Seven Group Holdings Ltd (ASX: SVW)

Another ASX 200 share that the fund manager currently likes is this diversified company that has both operations and stakes in other businesses. It's exposed to industrial services, media, and energy.

Last month, the company held its 2022 annual general meeting (AGM). At the meeting, it maintained its earnings guidance for 2023, which can be a positive sign considering some areas of the economy may see more uncertainty.

The fund manager said Seven's businesses of WesTrac and Coates Hire are "outperforming previous guidance" presented in the FY22 result in August. Management upgraded the guidance for underlying earnings before interest and tax (EBIT).

In concluding its optimistic views on the business, WAM said:

We see further potential for growth for Seven Group Holdings' portfolio of industrial businesses driven by a favourable outlook for mining and civil infrastructure spending in Australia.

Over the last month, the Seven Group Holdings share price has risen by around 10%.

The post 2 ASX 200 shares that have 'further potential' for good returns: experts appeared first on The Motley Fool Australia.

If you are, two ASX shares that could be worth considering are listed below. Here's why Goldman Sachs rates them as buys:

Allkem Ltd (ASX: AKE)

The first ASX growth share to consider is Allkem. It is one of the world's largest lithium miners with projects in Argentina, Australia, and North America.

From these projects, Allkem is aiming to grow its production in a way that allows it to maintain a 10% share of global lithium supply over the long term.

Goldman Sachs is bearish on the lithium industry right now due to its belief that lithium prices will tumble in the coming years. However, it is positive on Allkem due to the aforementioned production growth and exposure to several lithium types. This includes moving downstream from spodumene into lithium chemicals, which it sees as a margin accretive opportunity. It commented:

Of our covered Australian lithium companies, Allkem has the best LCE growth outlook with production growing >4x to FY27E with further downstream optionality on carbonate production

Goldman has a buy rating and $15.20 price target on Allkem's shares.

Webjet Limited (ASX: WEB)

Another ASX growth share that Goldman rates as a buy is online travel booking company Webjet.

The broker is a fan of Webjet due to its belief that it has exited the pandemic as a significantly stronger company. It is expecting this to underpin a six-year compound annual growth rate of 15.3% for its earnings. It added:

Our near term earnings changes remain modest given that we already price in a strong recovery for WEB in FY24/25. What these results have given us greater confidence is in the group's longer term outlook for both the Bedbanks and OTA businesses. WEB also continues to report strong cash generation.

Goldman has a conviction buy rating and price target of $6.90 on its shares.

The post Lithium and travel: Goldman Sachs names the ASX growth shares to buy now appeared first on The Motley Fool Australia.

A number of ASX shares are now trading with low price-to-earnings (P/E) ratios, or they've suffered a heavy sell-off. They could be counted as cheap ASX shares.

I think they could be opportunities to make strong returns in the long run.

Not every company has dropped during this period of higher interest rates and strong inflation. Just look at the Commonwealth Bank of Australia (ASX: CBA) share price and how that has held up over 2022.

But, CBA is a huge business. How much more growth can the bank achieve?

According to the Moneysmart compound interest calculator, investing $1,500 per month and earning the long-term historical market average return of 10% per annum can grow into just over $1 million in 20 years.

I think smaller ASX shares, which seem cheap, could be an effective way to invest in the current environment and potentially enable better returns, making a possible million come quicker, though it would still take time.

However, nothing is certain in the share market, and returns can be more volatile with smaller names.

Here are 10 cheap ASX shares I believe could be opportunities:

Adairs Ltd (ASX: ADH)

This furniture and homewares retailer has seen a big sell-off, with the Adairs share price down by 45% in 2022 to $2.21.

It's planning to grow profit by opening more stores, relocating existing store locations to shops with bigger floor spaces, growing its membership base, selling Mocka furniture in stores and increasing its online sales.

Commsec numbers imply the cheap ASX share is valued at just 8x FY23's estimated earnings with a grossed-up dividend yield of 11.7%.

Accent Group Ltd (ASX: AX1)

Accent is one of the largest shoe retailers in Australia. It owns shoe store brands like The Athlete's Foot and Glue Store, while acting as the distributor for other brands like Skechers and Vans.

The retail business is planning to grow its store network, improve margins and potentially add more brands.

After a 27% fall of the Accent share price in 2022 to $1.79, it's now valued at 14x FY23's estimated earnings with a grossed-up dividend yield of 8%, according to Commsec.

Corporate Travel Management Ltd (ASX: CTD)

This company is one of the largest ASX travel shares. It's also one of the world's biggest corporate travel operators.

With COVID effects fading away, there is a strong rebound in demand for travel. Corporate Travel Management worked during COVID to become more profitable when the normal travel conditions could return. When the cheap ASX share is back to a full recovery, the business expects to demonstrate at least a 30% improvement in earnings per share (EPS) compared to FY19.

According to Commsec, the Corporate Travel Management share price of $14.28 is valued at just 13x FY24's estimated earnings with a potential grossed-up dividend yield of 5.3%.

Evolution Mining Ltd (ASX: EVN)

Evolution Mining is one of the largest gold miners on the ASX, though the Evolution Mining share price is 26% lower than it was a year ago. It closed on Thursday at $2.90.

Amid a collapse of cryptocurrency prices and uncertainty with the companies involved in the industry, the gold price has jumped over the last month. This could help the miner's earnings in the medium term.

It's priced at 12x FY24's estimated earnings with a potential FY24 grossed-up dividend yield of 4%.

Betashares Global Cybersecurity ETF (ASX: HACK)

This exchange-traded fund (ETF) gives investors exposure to a portfolio of companies involved in cybersecurity.

There is an increasing amount of data, information and retailing online, so it's integral for organisations to stay protected, and this could be a strong tailwind for the underlying businesses. Each successful cyber attack could encourage every company in that industry to tighten up its defences. For example, Optus was recently the target of an attack.

The global cybersecurity market is expected to grow from $223.7 billion in 2022 to $478.7 billion in 2030, according to Statista and Strategic Market Research.

The Betashares Global Cybersecurity ETF unit price of $8.04 is 25% cheaper than it was at the start of the year.

Mineral Resources Limited (ASX: MIN)

Mineral Resources has sometimes been called the cheapest ASX lithium share. It has mining services, iron ore, and lithium operations.

It's working on increasing its production capacity for both iron ore and lithium, which could improve its profitability. The business is also looking at becoming involved with more of the lithium value chain.

According to Commsec, it's valued at 7x FY24's estimated earnings with a projected grossed-up dividend yield of 7%. The Mineral Resources share price closed on Thursday at $87.78.

Shaver Shop Group Ltd (ASX: SSG)

This company sells premium products in DIY grooming, personal care, and hair and beauty appliances for men and women. Exclusive products make up more than half of sales and 60% of gross profit.

According to Shaver Shop, the Australia-New Zealand beauty and personal care market is expected to grow from approximately $10 billion to around $12 billion by 2026. It's hoping to grow its number of stores and increase online sales over time.

Commsec numbers suggest the Shaver Shop share price of $1.12 is valued at under 9x FY23's estimated earnings with a projected grossed-up dividend yield of 13%.

Temple & Webster Group Ltd (ASX: TPW)

This company is a leader in retailing furniture and homewares. Both third-party suppliers and private brand products are sold through the website. A drop ship model by the suppliers means quicker delivery, and the cheap ASX share doesn't need to hold as much inventory.

It's investing in technology and efficiencies so that it can provide a better online shopping service for customers. For example, an augmented reality service allows shoppers to 'see' the product in their room. Management thinks the company will return to double-digit revenue growth during FY23.

In my opinion, it looks a lot cheaper after a 58% fall in the Temple & Webster share price in 2022. It closed on Thursday at $4.56.

Universal Store Holdings Ltd (ASX: UNI)

This company operates the Universal Store and THRILLS brands that are focused on younger shoppers.

The first 21 weeks of FY23 have seen total Universal Store sales climb by 40.2%. It's planning to continue to open new stores, while also benefiting from a gross profit margin improvement. The cheap ASX share will continue to invest in the productivity and technology of its business too.

According to Commsec, the Universal Store share price of $4.73 is valued at under 12x FY23's estimated earnings with a projected grossed-up dividend yield of almost 8%.

Webjet Limited (ASX: WEB)

Webjet is a leading ASX travel share. Not only does it have its online travel agency business, but it also has its business-to-business segment called WebBeds.

As travel rebounds, the company is hoping to reach a much higher earnings before interest, tax, depreciation and amortisation (EBITDA) margin compared to pre-COVID times. It has invested in technology to become more efficient.

The Webjet share price — $6.27 — is now valued at 20x FY24's estimated earnings, according to Commsec.

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